Page 15 - AfrOil Week 23 2021

AfrOil NEWS IN BRIEF AfrOil

COMPANIES State representatives. I am happy to add that we natural aquifers. This work has been completed
have added equal weight to ESG-related criteria in accordance with international standards and
Victoria Oil and Gas as we do technical and commercial ones in our best practices.
prospect ranking exercise and in the selection
Based on initial analysis of this first section,
announces corporate update of a surface location as we seek to minimise our ReconAfrica is pleased to report 134 metres (440
footprint in the area. Nonetheless, we remain feet) of light oil and gas shows from the 6-1 well.
Victoria Oil & Gas, whose wholly owned subsid- very excited about the exploration prospects in a The shows are similar in character to those seen
iary, Gaz du Cameroun, is the onshore gas pro- play that has been significantly derisked by adja- in the 6-2 well, 16 km to the south. This second
ducer and distributor with operations located in cent, tested discoveries.” well (6-1), like the first well (6-2), is in the same
the port city of Douala, Cameroon, has provided Victoria Oil & Gas, June 04 2021 sub-basin, shows clear evidence of a working
shareholders with a corporate update. conventional petroleum system.
Eneo Settlement Funds Received: On April ReconAfrica director Jim Granath stated: “In
16, 2021, GDC signed a settlement agreement UPSTREAM these first two wells, the many oil and gas shows,
with Eneo relating to the Take-or-Pay invoices with such variety, is certainly remarkable. It is
for October, November and December 2019 plus ReconAfrica’s second well highly encouraging to see clastic and thick car-
associated interest. CFA2.7bn (circa $5.1mn) bonate sections [that] appear to have similar res-
gross funds have now been received by GDC. in Kavango basin confirms ervoir characteristics as observed in many other
This payment to GDC represents full and final petroleum provinces.”
settlement for all amounts invoiced to Eneo. working petroleum system With the completion of the intermediate cas-
Matanda: GDC is pleased to report that the ing operation, the Company is drilling ahead on
ESIA Report on its planned activities on the Reconnaissance Energy Africa (ReconAfrica) schedule to finish drilling operations of the 6-1
Matanda Block has been approved. The certifi- has set intermediate casing and reports geologic well by the end of June 2021.
cate of environmental conformity, as issued by results in the first section of the second well Data Analysis: ReconAfrica is again using
an inter-ministerial committee between The (6-1), which again confirms a working petro- industry leaders to provide analysis of this crit-
Ministry of Environment, Protection of Nature leum system in the Kavango Sedimentary Basin. ical well, including Schlumberger, Geomark
and Sustainable Development (MINEPDED) As well, the Company is strengthening its Envi- Research (Houston, Texas) and Netherland
and The Ministry of Mines, Industry and Tech- ronment, Social & Governance (ESG) standard Sewell and Associates (Dallas, Texas). Due to
nological Development (MINIMIDT) permits and committing a minimum of CAD$10mn the success of the 6-2 well, ReconAfrica has
the progress of drilling activities subject to the of ESG expenditures to the Kavango region in added additional scientific analysis to the already
implementation of an approved Environment which it operates. robust programme of data capture and analysis
and Social Management Plan (ESMP). Drilling Operations: In keeping with its com- for the 6-1 well, including capture of natural gas
Roy Kelly, Chief Executive of the Company, mitment to the Namibian government, on May samples using IsoTubes® technology to enable
commented: “We are very pleased to bring the 5, 2021, the Company commenced drilling oper- analysis of natural gas composition.
Eneo episode to a close, and the funds signifi- ations of its second well (6-1), of an initial three In the first well (6-2), over 150 sidewall cores
cantly strengthen GDC’s working capital posi- well programme to continue the evaluation of were taken and Core Labs (Houston, Texas), the
tion. In addition to the funds received, GDC working conventional hydrocarbon systems industry leader in reservoir analysis, has begun
gains valuable tax credits, which will be used to confirmed in the first well (6-2) in the Kavango a detailed scientific analysis programme. In the
enhance cashflow. Sedimentary Basin. first section of the 6-1 well currently drilling, 37
“We are particularly grateful to the rele- Having set and cemented 17.5-inch surface sidewall cores have been taken and are in transit
vant Ministries and SNH for their expeditious casing at 150 metres, earlier this month, Recon- to Core Labs.
approval of our ESIA. Despite this being a lightly Africa has reached the intermediate casing point, The results of this programme will be used to
populated area, we thank the communities and set 12.25-inch steel casing and has completed the finalise analysis of the 6-2 well, and to inform the
their leaders for coming out to review the ESIA cementing operation. Steel casing and cementing initial analysis of the 6-1 well. Complete analysis
and for engaging constructively with GDC and are key elements of all oil well drilling to protect of these two wells is expected to be completed by
the end of July.
The 6-1 and 6-2 wells are in the same sub-ba-
sin, one of five major sub-basins of the larger,
more laterally extensive Kavango Sedimentary
Basin. The upcoming 2D seismic survey will tie
in the data from these two wells and provide the
first regional interpretation of the overall basin.
Environment, Social and Government Pro-
gress Timeline: ReconAfrica is committed to
building a successful exploration company while
also being committed to building an ESG man-
date globally for the next decade. ReconAfrica
and its growing Reconnaissance Energy Namibia
(REN) team have structured an ESG plan to go
hand in hand with its exploration mandate. For
well over a year, the Company has met a number
of important ESG and Corporate Social Respon-
sibility (CSR) objectives and commitments.

Week 23 09•June•2021 www. NEWSBASE .com P15